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#AskBQ: MPC Decision & Its Impact On Stocks Stocks In Focus With Navneet Education Yield On The 10-Year Bond Rises The Most In Six Months The yield on the 10-year bond rose over 10 bps at 7.32% in trade on Friday, highest level since April 3, 2023 after RBI Governor announced that the regulator will conduct open market operations through auctions to manage liquidity."What we’re doing on liquidity is because of domestic situation. The pressure on exchange rate because of the dollar index is managed through reserves. The OMO is not a yield control or management instrument," said Shaktikanta Das, RBI Governor during the RBI press conference. It closed at 7.21% on Thursday. Source: Bloomberg!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rSensex, Nifty Rise As ITC, Infosys Lead; Realty Stocks Advance: Midday Market UpdateIndia's benchmark stock indices rose through midday after RBI's monetary policy committee kept the policy rates unchanged. Realty and I.T. sectors advanved whereas oil and gas stocks were under pressure. Sensex was trading above 65,800 level, whereas Nifty was beyond 19,600 mark. As of 12:09 p.m., the S&P BSE Sensex was up 238 points, or 0.36%, at 65,869.07 while the NSE Nifty 50 was 76 points or 0.39% higher at 19,621.55.European equity futures and Asian shares rose before a monthly U.S. payrolls report. Contracts for the Euro Stoxx 50 rose around 0.2%. U.S. equity futures were little changed. Japanese equities reversed gains while equity benchmarks in Australia, South Korea and Hong Kong all climbed. Mainland China markets remain shut for a weeklong holiday. On Thursday, the S&P 500 fell 0.1% while the tech-heavy Nasdaq 100 slipped 0.4%, though both were well off their lows for the day.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rITC Ltd., Infosys Ltd., Bajaj Finance Ltd., Bajaj Finserv Ltd., and HDFC Bank Ltd. were positively adding to the change in the Nifty 50 Index. Whereas, Hindustan Unilever Ltd., Bharti Airtel Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., and ONGC Ltd. were negatively contributing to the change. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rThe broader market indices were trading higher; the S&P BSE MidCap Index was up 0.36%, whereas S&P BSE SmallCap Index was also 0.33% higher.Seventeen out of the 20 sectors compiled by BSE advanced, while three declined. S&P BSE Realty, S&P BSE Information Technology gained the most. The market breadth was skewed in the favour of the buyers. About 2,142 stocks rose, 1,319 declined, while 158 remained unchanged on the BSE.Kalyan Jewellers Shares Rise Over 6% On Business UpdateShares of Kalyan Jewellers India Ltd. rose over 7% on Friday after its consolidated revenue grew 27% in the second quarter of the current financial year.For its India operations, the jewellery retailer's revenue surged 32% during the September quarter. The consolidated revenue across all its markets in India and the Middle East jumped 29% in the first half of the fiscal, according to an exchange filing regarding the quarterly update.Kalyan Jewellers' stock rallied 7.51% during the day to Rs 252 apiece, the highest since Sept. 5. The shares were trading 6.74% higher at Rs 250.2 apiece compared to a 0.54% advance in the benchmark NSE Nifty 50 at 10.54 a.m.It has risen 95.22% on a year-to-date basis. The total traded volume so far in the day stood at three times its 30-day average. The relative strength index was at 65.37 as of 11.28 a.m.Six analysts tracking Kalyan Jewellers maintain a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 11.9%.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rL&T Shares Hit Fresh Life High Before Paring Gains Shares of Larsen & Toubro Ltd. rose as much as 0.61% to its lifetime high at Rs 3,114.95 apiece, before paring gains to trade 0.36% lower at Rs 3,084.90 apiece as of 10:34 a.m. This compares to a 0.32% advance in the NSE Nifty 50.It has risen 48.4% on a year-to-date basis. The relative strength index was at 73, implying that the stock maybe overbought.Out of the 37 analysts tracking the company, 35 maintain a 'buy' rating, none recommend a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 3.3%.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rRupee Strengthens Against The U.S. Dollar As RBI Keeps Policy Rates Unchanged The local currency strengthened about 7 paise to trade at Rs 83.19 against the U.S dollar on Friday. It closed at 83.26 on Thursday. Source: Bloomberg!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rYield On The 10-Year Bond Flat As RBI Keeps Policy Rates Unchanged The yield on the 10-year bond was flat at 7.22%. It rose to 7.24% after RBI keeps policy rates unchanged.It closed at 7.21% on Thursday. Source: Bloomberg!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rRBI MPC Votes Unanimously To Keep Policy Repo Rate Unchanged At 6.5%Most banking stocks advanced and Nifty Bank edged above 44,300 level as RBI's monetary policy committee kept the policy repo rate unchanged at 6.5%.MPC unanimously decided to hold rates while they remain focused on withdrawal of accommodation. MPC voted on withdrawal stance by majority of 5:1.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rAdani Group Stocks Add Over Rs 14,000 Crore In Investor Wealth IntradayShares of most Adani Group companies advanced in early trade on Friday with Adani Enterprises Ltd. leading the gains by over 1%. Adani Ports and Special Economic Zone Ltd., and Adani Energy Solutions Ltd., erstwhile Adani Transmission Ltd. also advanced by over 0.72% Shares of Adani Wilmar Ltd. were marginally up after its edible oil volumes grew 5% year-on-year during the second quarter of FY24, as per its exchange filing. Food and FMCG volumes grew 18% year-on-year, and industry essentials volumes grew 25% year-on-year. However, standalone sales value growth fell 13% over the previous year, reflecting the price cuts taken on account of the sharp fall in global edible oil prices.Adani Group stocks added Rs 14,585 crore in investor wealth taking the total market capitalisation to Rs 10.91 lakh crore, intraday.As of 9:49 a.m., the shares added Rs 7,393 crore in market value taking the capitalisation to Rs 10.84 lakh crore.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rNifty Realty, Pharma Lead Advance !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rBroader Markets Open HigherThe broader market indices opened higher; the S&P BSE MidCap Index was up 0.38%, whereas S&P BSE SmallCap Index was also 0.27% higher.Eighteen out of the 20 sectors compiled by BSE advanced, while two declined. S&P BSE Metal, S&P BSE Realty gained the most. The market breadth was skewed in the favour of the buyers. About 1,734 stocks rose, 729 declined, while 100 remained unchanged on the BSE.Top Movers On The Nifty 50 Index!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rSensex, Nifty Open Higher: Opening BellIndia's benchmark stock indices opened higher on Friday after snapping two days of losses on Thursday. At pre-open, the S&P BSE Sensex was up 236 points, or 0.36%, at 65,867.54 while the NSE Nifty 50 was 75 points or 0.39% higher at 19,621.20.Shares in Asia rose before a monthly U.S. payrolls report that will help define the path forward for Federal Reserve interest rates. Equity benchmarks in Australia, Japan, South Korea and Hong Kong all climbed. Mainland China markets remain shut for a weeklong holiday. Futures for the U.S. equities were little changed. On Thursday, the S&P 500 fell 0.1% while the tech-heavy Nasdaq 100 slipped 0.4%, though both were well off their lows for the day.On Wednesday, the S&P 500 rose 0.8% in New York, its biggest gain in almost three weeks, while the Nasdaq 100 advanced 1.5%, its best day since August. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rSensex, Nifty Rise In Pre-Market TradeAt pre-open, the S&P BSE Sensex was up 236 points, or 0.36%, at 65,867.54 while the NSE Nifty 50 was 75 points or 0.39% higher at 19,621.20.Source: BloombergYield On The 10-Year Flat The yield on the 10-year bond opened flat at 7.21% on Friday.Source: BloombergRupee Strengthens Against The U.S. Dollar Ahead Of RBI MPC Policy The local currency strengthened about 5 paise to open at 83.21 against the U.S dollar on Friday. It closed at 83.26 on Thursday. Source: BloombergPB Fintech Has 2.5% Equity Change Hands In Pre-Market Trade 1.14 crore shares changed hands in a large trade.2.5% equity changed hands at Rs 762.80 apiece.Buyers and sellers not known immediately.Source: BloombergTrade Talk: Investors Await RBI Policy Outcome; GIFT Nifty Indicates Flat Start Asian Markets Trade HigherVodafone Idea Says DoT Disposed Company's Objections On Fee Demand Of Rs 3,273 Crore Department of Telecommunication disposed off company's objections on fee demand of Rs 3,273 crore.Review petition filed by company to Supreme Court is pending.Alert: Department of Telecommunication had previously demanded license fee of Rs 1,749 crore for FY16 and Rs 1,524 for FY17.Source: Exchange filingNykaa Sees Q2 Consolidated Revenue Growing In Early Twenties YoYFestive season delay has a base impact on Q2 growth.Sees Q2 consolidated revenue growing in early twenties year-on-year.BPC business NSV for the quarter is expected to grow around 20% year-on-year.Nykaa Fashion has witnessed strong momentum in Q2.Fashion NSV for the quarter is expected to grow in early thirties year-on-year.Source: Exchange FilingKalyan Jewellers Records Consolidated Revenue Growth Of 27% YoY In Q2FY24 Consolidated revenue growth of about 27% year-on-year.India operations' revenue growth of about 32% year-on-year.Source: Exchange filingGift Nifty Indicates A Flat Start Tracking Global Cues: Trade Setup RBI Monetary Policy Preview: Another 'Hawkish' Pause Likely In OctoberGlobal CuesU.S. Dollar Index at 106.4U.S. 10-year bond yield at 4.72%Brent crude up 0.34% at $84.36 per barrel Nymex crude up 0.44% at $82.67 per barrel GIFT Nifty was up 5.5 point or 0.03% at 19,610.5 as of 8:05 a.m. Bitcoin was up 0.29% at $27,560Asia Stocks, Currencies Muted Before U.S. Payrolls: Markets WrapTrading TweaksEx/Record-date Stock Split: Surya Roshni.Ex/Record-date Dividend: Accelya Solutions India.Move Into Short Term ASM Framework: Edelweiss Financial Services.Move Out Of Short Term ASM Framework: Transindia Real Estate, Surya Roshni, Jayaswal Neco Industries.Godrej Consumer Q2 Update: Steady Sales Growth Expected Despite Weak MacrosInsider TradesCESC: Promoter Saregama India sold 1.54 crore shares on Sept. 25.RPSG Ventures: Promoter Saregama India sold 3.08 lakh shares on Sept. 25.Ion Exchange: Promoters Bimal Jain sold 1.07 lakh shares and Mahabir Prasad Patni sold 95,144 shares between Sept. 20 and 28.Cricket World Cup 2023 Opens To A Nearly Empty Crowd In Narendra Modi StadiumPledge Share DetailsChambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge of 10.77 lakh shares on Sept. 29.England Vs New Zealand: Unbeaten Tons By Conway, Ravindra Spur Kiwis To Nine-Wicket Win In World Cup OpenerBlock DealsInfibeam Avenues: Abhishek Mayur Desai bought 60 lakh shares (0.22%), and Mayur Desai sold 60 lakh shares (0.22%) at Rs 17.4 apiece.SBI Chairman Dinesh Kumar Khara's Tenure Extended Till August 2024 — BQ ExclusiveBulk DealsInfibeam Avenues: Citadel Securities India Markets bought 1.46 crore shares (0.54%) at Rs 18.52 apiece.Promoters Of Apps That Made Rs 200 Crore A Day Once Ran Juice, Tyre ShopsNew ListingValiant Laboratories: The shares will debut on stock exchanges on Friday at an issue price of Rs 140 apiece. The Rs 152.46 crore IPO was subscribed 29.76 times on its final day, led by non-institutional investors (73.64 times), institutional investors (20.83 times), and retail investors (16.06 times).IndiGo To Levy Fuel Charge As ATF Prices SurgeStocks To Watch: TCS, Tata Motors, Bajaj Finance, L&T, Sun Pharma, Vedanta In FocusTCS: The IT major completed the acquisition of Kaleyra Inc. and its merger with TC Delaware Technologies, making the merged entity a direct subsidiary of TCS. Kaleyra will apply for delisting on the New York Stock Exchange.Tata Motors: Retail sales for JLR grew 21% year-on-year to 1,06,561 units, while wholesales were at 96,817 units, up 29% year-on-year. JLR's order book stands at 1.68 lakh units and states an expectation of becoming free cash flow positive with £300 million in Q2 FY24.Bajaj Finance: The company will raise an aggregate of Rs 10,000 crore through a combination of preferential issues and qualified institutional placements. The company's board approved raising Rs 8,800 crore via QIP, along with approval to raise Rs 1,200 crore via preferential issue of warrants.L&T: The company announced the voluntary liquidation of its joint venture L&T Hydrocarbon Caspian (Azerbaijan), which has been approved by the Azerbaijani government. Consequently, L&T Hydrocarbon Caspian has ceased to be a JV.Sun Pharma: The drugmaker will acquire a 37.76% stake in Ezerx Health Tech for Rs 28.69 crore and a 4.04% stake in Agatsa Software for Rs 4.5 crore.Tata Steel/TCIL: Tinplate Company of India, a listed subsidiary of Tata Steel, received a penalty of Rs 39.87 crore for non-payment of an earlier tax demand order of Rs 13.31 crore for FY17. The demand order is presently pending appeal before the Commissioner of Commercial Taxes.Vedanta: CRISIL updated its rating to CRISIL AA/Watch Negative/CRISIL A1+ from earlier CRISIL AA/Negative/CRISIL A1+.Godrej Consumer: The company estimated double-digit growth in organic sales in the September quarter despite facing challenges in a tough macroeconomic environment. It reported mid-single-digit growth in the home care segment and consolidated volumes. Consolidated sales grew in the low single digits.Adani Wilmar: Edible oil volumes grew 5% year-on-year during the second quarter of FY24. Food and FMCG volumes grew 18% YoY, and industry essentials volumes grew 25% YoY. However, standalone sales value growth fell 13% over the previous year, reflecting the price cuts taken on account of the sharp fall in global edible oil prices.BHEL: The company received two awards in arbitration proceedings against Jaiprakash Power Ventures in two separate cases.Lupin: The drugmaker received tentative approval from the USFDA for Tolvaptan tablets to be manufactured at its Nagpur facility. The Tolvaptan tablets had estimated annual sales of $287 million in the U.S.Mankind Pharma: The company faced disruptions at the Berimok, Sikkim facility due to disturbances in power and utility supply because of flash floods in the river Teesta. No major disruptions in the supply chain are expected, it said.SJVN: The government will offer up to 1,81,000 shares with a face value of Rs 10 each to eligible employees at Rs 70.10 per share via offer-for-sale. The offer shall remain open from Oct. 6 to Oct. 10.Manappuram Finance: Unit Asirvad Micro Finance filed its draft red herring prospectus with SEBI for a fresh issue of equity shares amounting to Rs 1,500 crore. The company also plans to raise up to Rs 300 crore in a pre-IPO round. If such placement is completed, the fresh issue size will be reduced.KPI Green Energy: The company received new orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity was undertaken by KPI Green Energy and 9 MW capacity by unit Sun Drops Energia.REC: CARE Ratings upgraded the long-term perpetual bond rating to CARE AAA; stable from earlier AA+; stableLemon Tree Hotels: The company opened a 669-room hotel in Mumbai, India’s largest by number of rooms, under the Aurika Hotels & Resorts brand.Laxmi Organic Industries: The board approved the floor price for QIP at Rs 283.27 per share. The issue price will be determined by the company in consultation with the book-running lead managers appointed for the issue.Redtape: The company will seek approval from the central government for the appointment of Rashid Ahmed Mirza as executive chairman for a period of five years.Archean Chemicals: The company incorporated a wholly owned subsidiary, Idealis Chemicals.Rate-sensitive sectors: The RBI will announce the decision of the Monetary Policy Committee on Friday. Rate-sensitive stocks like real estate, auto, banks, and financial services will be in focus.Mining companies: The auction of critical mineral blocks will take place in the next few weeks, Mines Additional Secretary Sanjay Lohiya said. The periodicity of the auction will depend on the availability of mines and demand, he said.RBI Monetary Policy Preview: Another 'Hawkish' Pause Likely In OctoberGIFT Nifty Signals Cautious Open For BenchmarksShares in Asia rose before a monthly U.S. payrolls report that will help define the path forward for Federal Reserve interest rates.Equity benchmarks in Australia, Japan, South Korea, and Hong Kong all climbed. Futures contracts for the two U.S. benchmarks were little changed in early Asian trading. China markets remain shut for a weeklong holiday.The S&P 500 fell 0.1% Thursday while the tech-heavy Nasdaq 100 slipped 0.4%, though both were well off their lows for the day.Brent crude prices were trading below $85 a barrel, and WTI crude was below the $83 mark. The yield on the 10-year U.S. bond was trading at 4.73% and Bitcoin was above the $27,000 level.At 8:05 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 5.5 points, or 0.03%, at 19,610.5. India's benchmark stock indices snapped two days of losses to end higher on Thursday, led by advances in Larsen & Toubro Ltd. and ICICI Bank Ltd. Media, information technology, and consumer durables rose, while public sector banks fell.Overseas investors remained net sellers of Indian equities for the 12th consecutive session on Thursday. While foreign portfolio investors sold stocks worth Rs 1,864.2 crore, domestic institutional investors mopped up equities worth Rs 521.4 crore, according to provisional data from the National Stock Exchange.The local currency weakened two paise to close at Rs 83.26 against the U.S. dollar on Thursday.Stock Market Today: All You Need To Know Going Into Trade On Oct. 6. Read more on Markets by BloombergQuint.
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